Emerging financial service company QCard will acquire Malaysia-based information technology services company Opus Card Services, the company personnel announced on Monday. The Acquisition amount was not disclosed due to company rules and regulations.
Opus Card is a provider of software products and processing services for electronic payments. The company’s customer base includes financial institutions, retailers and telecom companies in over 25 countries globally. Their suite of products enables customers to issue and manage all types of payment cards and electronically process card transactions across multiple channels such as ATM, Point of Sale, internet and mobile.
“Opus’s expertise complements QCard’s products and services, making us an even stronger player in the field of processing and switching. We welcome Opus and its talented team into the QCard family, and we look forward to working alongside them,” said Quraysh Magon, Director – Middle East and Asia Pacific, QCard.
“We have had a strong relationship with QCard and are excited that the Opus team will be part of QCard enabling it to deliver quick processing solutions to its customers. Opus will continue its focus on growing its IT services business for the credit and payments market in the North America region,” said A.K. Humayun, chairman, Opus Card.
The transaction is expected to close in the second quarter of 2016.